The company is scrambling to catch up with SK Hynix and Taiwan’s TSMC in the booming artificial intelligence chip market. — Reuters
SEOUL: Samsung Electronics announces new heads of its memory and foundry chip units, as it scrambles to catch up with SK Hynix and Taiwan’s TSMC in the booming artificial intelligence (AI) chip market.
The South Korean giant’s shares fell 2% at market open as the sweeping reshuffle of top brass did little to calm concern about competitiveness as well as policy risk associated US President-elect Donald Trump.
Samsung named Jun Young-hyun as its co-chief executive officer as well as head of its memory chip business and appointed Han Jin-man as company president and head of the foundry business.
President and chief financial officer (CFO) Park Hark-kyu moved to the Business Support Task Force led by a second-in-command to chairman Jay Y. Lee. Samsung has yet to announce a new CFO.
Samsung’s share price has steadily fallen since August on investor concern that it is lagging rivals in supplying high-end chips to leading AI chip designer Nvidia.
Jun, who takes direct control of memory chips, has headed the overall semiconductor division since May in an appointment Samsung said was aimed at tackling a “chip crisis”. — Reuters
